Bulgarian bank interested in investing in Stavalj thermal power plant

Corporate Commercial Bank from Bulgaria is interested in investing in the construction of Stavalj thermal power plant and coal mine, the Serbian Energy Ministry said in a release today.

According to the release, this bank, the fifth largest in Bulgaria, and its partner companies would like to invest in a steam power plant and brown coal mine near Sjenica using a project finance model.

Parallel talks will be held with all investors interested in implementing that project, including companies from Czech Republic and China, the Energy Ministry said in the release.

At a meeting with the Bulgarian delegation, Serbian Minister of Energy, Development and Environmental Protection Zorana Mihajlovic talked about investment opportunities in Serbia's energy sector with the majority owner and chairman of the Supervisory Board of Corporate Commercial Bank from Sofia, Cvetan Vasilev.

Vasilev, whose companies have invested about EUR 100 million in Srpska Fabrika Stakla (Serbian Glass Factory) in Paracin, led this delegation consisting of mining and energy experts.

The meeting was also an occasion to discuss the possibility of Bulgarian investors taking part in the Despotovac thermal power plant project as well as in possible construction of new power generation unit within the Morava thermal power plant in Svilajnac.